Punch & Associates Investment Management Inc. Boosts Position in MercadoLibre, Inc. $MELI

Key Points

• Punch & Associates Investment Management increased its MercadoLibre stake by 9.3% in the first quarter, buying 798 additional shares and bringing its total holdings to 9,368 shares worth about $16.2 million.
• MercadoLibre director Alejandro Nicolas Aguzin bought 600 shares in May for roughly $993,558, a 12.62% increase in his position, while institutional investors continue to own the vast majority of the stock.
• The company recently reported Q1 revenue of $8.85 billion, up 49% year over year and above estimates, but earnings per share of $8.23 missed expectations. Analysts remain mostly positive overall, with a consensus rating of Moderate Buy and an average price target of $2,258.67.

Punch & Associates Investment Management Inc. raised its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 9.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,368 shares of the company's stock after acquiring an additional 798 shares during the quarter. Punch & Associates Investment Management Inc.'s holdings in MercadoLibre were worth $16,197,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Interchange Capital Partners LLC increased its position in shares of MercadoLibre by 2.1% during the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company's stock valued at $490,000 after purchasing an additional 5 shares during the last quarter. Cornerstone Select Advisors LLC boosted its holdings in shares of MercadoLibre by 2.9% in the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company's stock worth $355,000 after buying an additional 5 shares during the last quarter. Mitchell Capital Management Co. grew its position in MercadoLibre by 0.4% during the fourth quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company's stock valued at $2,542,000 after buying an additional 5 shares during the period. Strategic Advisors LLC grew its position in MercadoLibre by 0.4% during the fourth quarter. Strategic Advisors LLC now owns 1,273 shares of the company's stock valued at $2,564,000 after buying an additional 5 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC increased its holdings in MercadoLibre by 2.0% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company's stock valued at $605,000 after buying an additional 5 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of MercadoLibre stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.26% of the company's stock.

MercadoLibre Stock Up 0.2%

NASDAQ MELI opened at $1,801.44 on Friday. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The stock has a market cap of $91.33 billion, a PE ratio of 47.54, a P/E/G ratio of 1.11 and a beta of 1.35. The stock's 50 day moving average is $1,705.94 and its 200 day moving average is $1,815.81.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the previous year, the business earned $9.74 EPS. The company's quarterly revenue was up 49.0% on a year-over-year basis. Research analysts predict that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Scotiabank decreased their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating on the stock in a research report on Thursday, May 7th. Citigroup boosted their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Daiwa Securities Group lowered MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 price objective for the company. in a research note on Friday, May 8th. UBS Group decreased their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating on the stock in a report on Wednesday, May 13th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of MercadoLibre in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $2,258.67.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

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